MISMO Publishes Updated Charge and Fee Naming Guide
September 16, 2025
MISMO recently published an update to its Consumer-Facing Charge and Fee Naming Guide.
This work enables lenders to:
- Improve Fee Transparency: By replacing vague “other” fee labels with specific, standardized names, lenders can present clearer, more consumer-friendly disclosures on Loan Estimates and Closing Disclosures.
- Ensure Data Accuracy and Consistency: Standardized fee terminology supports accurate data transmission to GSEs and aggregators, aligning with delivery requirements and reducing the risk of compliance issues.
- Reduce Operational Costs: Uniform fee naming conventions streamline system integrations and data workflows, minimizing manual interventions and promoting end-to-end data cleanliness.
- Advance Secondary Market Alignment: By moving toward standardized data practices, lenders demonstrate progress in meeting expectations from Fannie Mae and Freddie Mac, reinforcing trust and reliability in the secondary market.
Contact ALTA at 202-296-3671 or [email protected].